Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model. According to this line of thought, the value of a good or service is determined through a hypothetical maximization of utility by income-constrained individuals and of profits by firms facing production costs and employing available information and factors of production. This approach has often been justified by appealing to rational choice theory.
Social science is one of the branches of science, devoted to the study of societies and the relationships among members within those societies. The term was formerly used to refer to the field of sociology, the original "science of society", established in the 18th century. In addition to sociology, it now encompasses a wide array of academic disciplines, including anthropology, archaeology, economics, geography, linguistics, management, communication studies, psychology, culturology and political science.
Standard of living is the level of income, comforts and services available to an individual, community or society. A contributing factor to an individual's quality of life, standard of living is generally concerned with objective metrics outside an individual's personal control, such as economic, societal, political, and environmental matters. Individuals or groups use the standard of living to evaluate where to live in the world, or when assessing the success of society.
Evolutionary economics is a school of economic thought that is inspired by evolutionary biology. Although not defined by a strict set of principles and uniting various approaches, it treats economic development as a process rather than an equilibrium and emphasizes change, innovation, complex interdependencies, self-evolving systems, and limited rationality as the drivers of economic evolution. The support for the evolutionary approach to economics in recent decades seems to have initially emerged as a criticism of the mainstream neoclassical economics, but by the beginning of the 21st century it had become part of the economic mainstream itself.
Productivism or growthism is the belief that measurable productivity and growth are the purpose of human organization, and that "more production is necessarily good". Critiques of productivism center primarily on the limits to growth posed by a finite planet and extend into discussions of human procreation, the work ethic, and even alternative energy production.
Ecological economics, bioeconomics, ecolonomy, eco-economics, or ecol-econ is both a transdisciplinary and an interdisciplinary field of academic research addressing the interdependence and coevolution of human economies and natural ecosystems, both intertemporally and spatially. By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing strong sustainability and rejecting the proposition that physical (human-made) capital can substitute for natural capital.
Humanistic psychology is a psychological perspective that arose in the mid-20th century in answer to two theories: Sigmund Freud's psychoanalytic theory and B. F. Skinner's behaviorism. Thus, Abraham Maslow established the need for a "third force" in psychology. The school of thought of humanistic psychology gained traction due to Maslow in the 1950s.
Mark A. Lutz is an Emeritus Professor of Economics at the University of Maine, and the author of Economics for the Common Good, published by Routledge in 1999.
Heterodox economics refers to attempts at treating the subject of economics that reject the standard tools and methodologies of mainstream economics, which constitute the scientific method as applied to the field of economics. These tools include include:
Small Is Beautiful: A Study of Economics As If People Mattered is a collection of essays published in 1973 by German-born British economist E. F. Schumacher. The title "Small Is Beautiful" came from a principle espoused by Schumacher's teacher Leopold Kohr (1909–1994) advancing small, appropriate technologies, policies, and polities as a superior alternative to the mainstream ethos of "bigger is better".
Leopold Kohr was an economist, jurist and political scientist known both for his opposition to the "cult of bigness" in social organization and as one of those who inspired the Small Is Beautiful movement. For almost twenty years, he was Professor of Economics and Public Administration at the University of Puerto Rico. He described himself as a "philosophical anarchist." His most influential work was The Breakdown of Nations. In 1983, he was awarded the Right Livelihood Award for "his early inspiration of the movement for a human scale." Kohr is considered to represent degrowth, anti-imperialist, anti-capitalist, and anti-utilitarist concepts and ideology. He was also considered a green anarchist. Kohr was a mentor of E.F. Schumacher as well as Ivan Illich.
Geoffrey Martin Hodgson is Emeritus Professor in Management at the London campus of Loughborough University, and also the editor-in-chief of the Journal of Institutional Economics.
Mainstream economics is the body of knowledge, theories, and models of economics, as taught by universities worldwide, that are generally accepted by economists as a basis for discussion. Also known as orthodox economics, it can be contrasted to heterodox economics, which encompasses various schools or approaches that are only accepted by a minority of economists.
In the history of economic thought, a school of economic thought is a group of economic thinkers who share or shared a mutual perspective on the way economies function. While economists do not always fit within particular schools, particularly in the modern era, classifying economists into schools of thought is common. Economic thought may be roughly divided into three phases: premodern, early modern and modern. Systematic economic theory has been developed primarily since the beginning of what is termed the modern era.
Laurent Thévenot is a French sociologist Professor at the Ecole des Hautes Etudes en Sciences Sociales (Paris).
The following outline is provided as an overview of and topical guide to economics:
The following outline is provided as an overview of and topical guide to social science:
Neva Goodwin Rockefeller is an American businesswoman. She's served as co-director of the Global Development And Environment Institute (GDAE) at Tufts University since 1993, where she is a research associate at the Fletcher School of Law and Diplomacy and director of the Social Science Library: Frontier Thinking in Sustainable Development and Human Well-Being.
New pragmatism – original paradigmatic and heterodox theory of economics created by Grzegorz W. Kolodko to address the contemporary civilizational challenges and economic system transformations. It is based on the imperative for a harmonious triply sustainable social and economic growth.
